In yesterday’s Wall Street session, Truist Financial Corporation (NYSE:TFC) shares traded at $38.06, up 3.42% from the previous session.
TFC stock price is now 4.09% away from the 50-day moving average and 14.56% away from the 200-day moving average. The market capitalization of the company currently stands at $50.79B.
With the price target enhanced from $41 to $43, Stephens Upgraded its rating from Equal-Weight to Overweight for Truist Financial Corporation (NYSE: TFC). On January 04, 2024, BofA Securities Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock keeping its target price maintained at $43, while ‘Odeon’ rates the stock as ‘Buy’
In other news, Boyer K. David Jr., Director sold 3,764 shares of the company’s stock on Mar 07 ’24. The stock was sold for $141,084 at an average price of $37.48. Upon completion of the transaction, the Director now directly owns 16,132 shares in the company, valued at $0.61 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 20 ’23, Chairman & CEO ROGERS WILLIAM H JR bought 10,000 shares of the business’s stock. A total of $280,480 was incurred on buying the stock at an average price of $28.05. This leaves the insider owning 412,924 shares of the company worth $15.72 million. A total of 0.32% of the company’s stock is owned by insiders.
During the past 12 months, Truist Financial Corporation has had a low of $25.56 and a high of $39.29.
According to the Banks – Regional Company, earnings per share came in at 1.09, missing analysts’ expectations of 1.14 by -0.05. This compares to $1.20 EPS in the same period last year. The net profit margin was -4.34% and return on equity was -1.82% for TFC. The company reported revenue of $6.27 billion for the quarter, compared to $5.24 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 19.63 percent. For the current quarter, analysts expect TFC to generate $5.7B in revenue.
